[Federal Register Volume 77, Number 77 (Friday, April 20, 2012)]
[Notices]
[Pages 23806-23807]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-9501]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

April 16, 2012.
    The Department of the Treasury will submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before May 21, 2012 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestion for reducing 
the burden, to (1) Office of Information and Regulatory Affairs, Office 
of Management and Budget, Attention: Desk Officer for Treasury, New 
Executive Office Building, Room 10235, Washington, DC 20503, or email 
at [email protected] and (2) Treasury PRA Clearance Officer, 
1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or on-
line at www.PRAComment.gov.

FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be 
obtained by calling (202) 927-5331, email at [email protected], or the 
entire information collection request maybe found at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Number: 1545-0064.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Application for Exemption From Social Security and Medicare 
Taxes and Waiver of Benefits.
    Form: 4029.
    Abstract: Form 4029 is used by members of recognized religious 
groups to apply for exemption from social security and Medicare taxes 
under IRC sections 1402(g) and 3127. The information is used to approve 
or deny exemption from social security and Medicare taxes.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 3,792.

    OMB Number: 1545-0387.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Application for Filing Information Returns Magnetically/
Electronically.
    Form: 4419.
    Abstract: Under section 6011(e)(2)(a) of the Internal Revenue Code, 
any person, including corporations, partnerships, individuals, estates 
and trusts, who is required to file 250 or more information returns 
must file such returns magnetically/electronically. Payers required to 
file on magnetic media or electronically must complete Form 4419 to 
receive authorization to file.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 6,500.

    OMB Number: 1545-1356.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 8725--Miscellaneous Sections Affected by the Taxpayer 
Bill of Rights 2 and the Personal Responsibility and Work Opportunity 
Reconciliation Act of 1996.
    Abstract: This document contains final regulations relating to 
joint returns, property exempt from levy, interest, penalties, offers 
in compromise, and the awarding of costs and certain fees. The 
regulations reflect changes to the law made by the Taxpayer Bill of 
Rights 2 and a conforming amendment made by the Personal Responsibility 
and Work Opportunity Reconciliation Act of 1996. The regulations affect 
taxpayers with respect to filing of returns, interest, penalties, court 
costs, and payment, deposit, and collection of taxes.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 86.

    OMB Number: 1545-1685.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9046--Tax Shelter Disclosure Regulations.
    Abstract: These regulations finalize the rules relating to the 
filing by certain taxpayers of a disclosure statement with their 
Federal tax returns under section 6011(a), the rules relating to the 
registration of confidential corporate tax shelters under section 
6111(d), and the rules relating to the list maintenance requirements 
under section 6112. These regulations affect taxpayers participating in 
reportable transactions, persons responsible for registering 
confidential corporate tax shelters, and organizers and sellers of 
potentially abusive tax shelters.

[[Page 23807]]

    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1.

    OMB Number: 1545-1831.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9157--Guidance Regarding the Treatment of Certain 
Contingent Payment Debt Instruments with one or more Payments that are 
Denominated in, or Determined by Reference to, a Nonfunctional 
Currency.
    Abstract: The IRS needs the information from the holder of certain 
debt instruments in order to alert the agency that the computation of 
interest income/expense by the holder and issuer will not be 
consistent. The respondents will be holders of contingent payment debt 
instruments which require payments to be made in or by reference to 
foreign currency. The respondents will probably be investment banks, 
however, may also include others who hold these debt instruments for 
investments.
    Affected Public: Private Sector: businesses or other for-profits.
    Estimated Total Burden Hours: 100.

    OMB Number: 1545-1953.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-140029-07 (NPRM) Substantiation and Reporting 
Requirements for Cash and Noncash Charitable Contributions and 
Deductions.
    Abstract: These proposed regulations provide guidance concerning 
substantiation and reporting requirements for cash and noncash 
charitable contributions under section 170 of the Internal Revenue Code 
(Code). The regulations reflect the enactment of provisions of the 
American Jobs Creation Act of 2004 and the Pension Protection Act of 
2006. The regulations provide guidance to individuals, partnerships, 
and corporations that make charitable contributions, and will affect 
any donor claiming a deduction for a charitable contribution.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 226,419.

    OMB Number: 1545-1956.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Rev. Proc. 2005-51, Revenue Procedure regarding I.R.C. 
6707A(e) and Disclosure with the SEC.
    Abstract: This revenue procedure provides guidance to persons who 
may be required to pay certain penalties under sections 6662(h), 6662A, 
or 6707A of the Internal Revenue Code, and who may be required under 
section 6707A(e) to disclose those penalties on reports filed with the 
Securities and Exchange Commission. This revenue procedure describes 
the report on which the disclosures must be made, the information that 
must be disclosed, and the deadlines by which persons must make the 
disclosures on reports filed with the SEC in order to avoid additional 
penalties under section 6707A(e).
    Affected Public: Private Sector: businesses or other for-profits.
    Estimated Total Burden Hours: 430.

    OMB Number: 1545-2130.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Determination Under Section 860(e)(4) by a Qualified 
Investment Entity.
    Form: 8927.
    Abstract: The American Jobs Creation Act of 2004 (AJCA) expanded 
the meaning of the term ``determination'' to include self-
determinations made by a regulated investment company (RIC) or a real 
estate investment trust (REIT). IRC section 860(g) provides that no 
deficiency dividend deduction shall be allowed under IRC section 860(a) 
unless a claim is filed within 120 days after the date of the 
determination. Form 8927 is used by the RIC or REIT to establish the 
date of determination under IRC section 860(e)(4).
    Affected Public: Individual or Households.
    Estimated Total Burden Hours: 140.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2012-9501 Filed 4-19-12; 8:45 am]
BILLING CODE 4830-01-P